Systems and methods are disclosed herein for pricing an insurance premium based on route complexity. The system includes a computer memory and a processor in communication with the computer memory. The computer memory stores telematics data received from a sensor within a vehicle. The telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data. The processor is configured to compute a complexity score of the trip based on the telematics data. The processor is also configured to determine a price for automobile insurance for the driver based on the complexity score of the at least one trip.
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1. A system for pricing an insurance premium based on route complexity, the system comprising: a computer memory for storing telematics data received from a sensor within a vehicle during at least one trip, the telematics data comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and a processor in communication with the memory, wherein the processor is configured for: retrieving information related to an automobile insurance policy; retrieving at least a portion of the stored telematics data from the computer memory; computing a complexity score of the at least one trip based on at least a fractal dimension of a two dimensional representation of a route traversed by the vehicle during the at least one trip derived from the retrieved telematics data; storing the computed complexity score; calculating a price adjustment for a premium for the automobile insurance policy based on the retrieved information related to the policy and the complexity score of the at least one trip; applying the price adjustment to the insurance premium; and outputting the adjusted price for the premium for the automobile insurance policy.
A system prices car insurance based on how complex a driver's routes are. It includes a computer that stores telematics data (location, speed, etc.) from a sensor in the car. The computer retrieves insurance policy information, analyzes the telematics data to calculate a complexity score for each trip, storing the score, and determines a premium adjustment based on the policy details and the complexity score (using fractal dimension of a 2D map of the route). Finally, it calculates and outputs the adjusted insurance premium price.
2. The system of claim 1 , wherein the processor is further configured for calculating complexity score of the trip based on at least one of orientation, speed, acceleration, and jerk of the vehicle.
In addition to the system described in claim 1, the computer also calculates the trip complexity score using the vehicle's orientation, speed, acceleration, and jerk (rate of change of acceleration). This provides a more detailed complexity assessment than just the route's fractal dimension for pricing car insurance.
3. The system of claim 1 , wherein the processor is further configured for determining an overall complexity rating for a driver based on complexity scores calculated for a plurality of trips taken by the driver.
In addition to the system described in claim 1, the computer determines an overall complexity rating for a driver by considering the complexity scores from multiple trips. This allows for a more comprehensive risk assessment based on a driver's typical driving behavior, rather than just a single trip for pricing car insurance.
4. The system of claim 1 , wherein the processor is further configured for identifying safety events which occurred during the trip and determining, by the processor, a severity estimation of the safety events.
In addition to the system described in claim 1, the computer identifies safety events (e.g., hard braking, rapid acceleration) that occurred during the trip and estimates the severity of each event. This information is then used in conjunction with the route complexity to refine the car insurance pricing, improving risk assessment.
5. A system for pricing an insurance premium based on route complexity, the system comprising: a computer memory for storing telematics data received from a sensor within a vehicle during at least one trip taken by the vehicle while driven by a driver, the telematics data comprising at least one of geo-position information of the vehicle and vehicle kinematics data; and a processor in communication with the memory, wherein the processor is configured for: computing a complexity score of the at least one trip based on at least a fractal dimension of a two dimensional representation of a route traversed by the vehicle during the at least one trip derived from the telematics data received from the computer memory; and determining a price for automobile insurance for the driver based on the complexity score of the at least one trip.
A system prices car insurance based on how complex a driver's routes are. It includes a computer that stores telematics data (location, speed, etc.) from a sensor in the car. The computer analyzes the telematics data to calculate a complexity score for each trip (using fractal dimension of a 2D map of the route), and determines a car insurance price for the driver based on this complexity score.
6. The system of claim 5 , wherein the processor is further configured for calculating complexity score of the trip based on changes in orientation of the vehicle.
In addition to the system described in claim 5, the computer also calculates the trip complexity score based on changes in the vehicle's orientation. This provides a more detailed complexity assessment beyond route shape for pricing car insurance.
7. The system of claim 5 , wherein the processor is further configured for calculating the complexity score of the trip based on at least one of speed, acceleration, and jerk of the vehicle.
In addition to the system described in claim 5, the computer calculates the trip complexity score based on the vehicle's speed, acceleration, and jerk (rate of change of acceleration). This refines the complexity score for pricing car insurance.
8. The system of claim 5 , wherein the processor is further configured for determining an overall complexity rating for a driver based on complexity scores calculated for a plurality of trips taken by the driver.
In addition to the system described in claim 5, the computer determines an overall complexity rating for a driver by considering the complexity scores from multiple trips. This gives a better view of driving behavior for car insurance pricing.
9. The system of claim 8 , wherein the processor is further configured for determining a number of trips to be included in the overall complexity rating by analyzing a variation in the complexity scores over time.
In addition to the system described in claim 8, the computer determines how many trips to include when calculating the driver's overall complexity rating by analyzing how the complexity scores change over time. This ensures a representative sample of driving behavior for pricing car insurance.
10. The system of claim 5 , wherein the processor is further configured for determining a trip safety score based on a complexity score and a maximum speed for the trip.
In addition to the system described in claim 5, the computer determines a trip safety score based on the trip's complexity score and the maximum speed reached during the trip. This helps identify potentially risky driving behavior for pricing car insurance.
11. The system of claim 5 , wherein the processor is further configured for identifying safety events which occurred during the trip and determining, by the processor, a severity estimation of the safety events.
In addition to the system described in claim 5, the computer identifies safety events (e.g., hard braking, rapid acceleration) during the trip and estimates the severity of each event. This adds another layer to assess risk in the car insurance pricing.
12. The system of claim 5 , wherein determining the price for automobile insurance comprises determining a retroactive adjustment to be applied to a price of an automobile insurance premium for a period during which the telematics data was collected.
In addition to the system described in claim 5, the car insurance price is determined by retroactively adjusting the premium for a period when the telematics data was collected. This allows for adjustments to past premiums based on actual driving behavior.
13. The system of claim 5 , wherein determining the price for automobile insurance comprises determining an adjustment to be prospectively applied to a price of an automobile insurance premium for a future period.
In addition to the system described in claim 5, the car insurance price is determined by prospectively adjusting the premium for a future period. This allows for setting future premiums based on recent driving behavior.
14. The system of claim 5 , wherein determining a price for automobile insurance comprises setting a price for a new automobile insurance plan.
In addition to the system described in claim 5, the car insurance price is determined by setting a new price for a new car insurance plan. The trip complexity score is used to initially determine the premium.
15. A method for pricing an insurance premium based on route complexity, the method comprising: receiving, by a processor, telematics data collected from a sensor coupled to a vehicle throughout a duration of at least one trip taken by the vehicle while driven by a driver, wherein the telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data; computing, by the processor, a complexity score of the at least one trip based or at least a fractal dimension of a two dimensional representation of the route traversed by the vehicle during the at least one trip derived from the telematics data; and determining, by the processor, a price for automobile insurance for the driver based on the complexity score of the at least one trip.
A method prices car insurance based on route complexity. A computer receives telematics data (location, speed, etc.) from a sensor in the car during trips. The computer calculates a complexity score for each trip (using fractal dimension of a 2D map of the route) and determines a car insurance price for the driver based on this complexity score.
16. The method of claim 15 , wherein the complexity score of a trip is based on changes in orientation of the vehicle.
In addition to the method described in claim 15, the complexity score is based on changes in the vehicle's orientation during the trip.
17. The method of claim 15 , wherein the complexity score of a trip is based on at least one of speed, acceleration, and jerk of the vehicle.
In addition to the method described in claim 15, the complexity score is based on the vehicle's speed, acceleration, and jerk (rate of change of acceleration) during the trip.
18. The method of claim 15 , further comprising determining, by the processor, an overall complexity rating for a driver based on complexity scores calculated for a plurality of trips taken by the driver.
In addition to the method described in claim 15, the method involves determining an overall complexity rating for a driver based on complexity scores calculated for a plurality of trips taken by the driver.
19. The method of claim 18 , further comprising determining, by the processor, a number of trips to be included in the overall complexity rating by analyzing a variation in the complexity scores over time.
In addition to the method described in claim 18, the method involves determining a number of trips to include in the overall complexity rating by analyzing a variation in the complexity scores over time.
20. The method of claim 15 , further comprising determining, by the processor, a trip safety score based on a complexity score and a maximum speed for the trip.
In addition to the method described in claim 15, the method involves determining a trip safety score based on a complexity score and a maximum speed for the trip.
21. The method of claim 15 , further comprising identifying safety events which occurred during the trip and determining, by the processor, a severity estimation of the safety events.
In addition to the method described in claim 15, the method involves identifying safety events which occurred during the trip and determining a severity estimation of the safety events.
22. The method of claim 15 , wherein determining the price for automobile insurance comprises determining a retroactive adjustment to be applied to a price of an automobile insurance premium for a period during which the telematics data was collected.
In addition to the method described in claim 15, determining the price for automobile insurance involves determining a retroactive adjustment to be applied to a price of an automobile insurance premium for a period during which the telematics data was collected.
23. The method of claim 15 , wherein determining the price for automobile insurance comprises determining an adjustment to be prospectively applied to a price of an automobile insurance premium for a future period.
In addition to the method described in claim 15, determining the price for automobile insurance involves determining an adjustment to be prospectively applied to a price of an automobile insurance premium for a future period.
24. The method of claim 15 , wherein determining a price for automobile insurance comprises setting a price for a new automobile insurance plan.
In addition to the method described in claim 15, determining a price for automobile insurance involves setting a price for a new automobile insurance plan.
25. A non-transitory computer readable medium having stored therein instructions for, upon execution, causing a computer to implement method for pricing an insurance premium based on route complexity, the method comprising: receiving, by a processor, telematics data collected from a sensor coupled to a vehicle throughout a duration of at least one trip taken by the vehicle while driven by a driver, wherein the telematics data includes at least one of geo-position information of the vehicle and vehicle kinematics data; computing, by the processor, a complexity score of the at least one trip based on at least a fractal dimension of a two dimensional representation of a route traversed by the vehicle during the at least one trip derived from the telematics data; and determining, by the processor, a price for automobile insurance for the driver based on the complexity score of the at least one trip.
A computer-readable storage medium contains instructions that, when executed, cause a computer to price car insurance based on route complexity. The method involves receiving telematics data (location, speed, etc.) from a sensor in the car during trips, calculating a complexity score for each trip (using fractal dimension of a 2D map of the route), and determining a car insurance price for the driver based on this complexity score.
26. The non-transitory computer readable medium of claim 25 , wherein determining the price for automobile insurance comprises determining a retroactive adjustment to be applied to a price of an automobile insurance premium for a period during which the telematics data was collected.
In addition to the computer readable medium described in claim 25, the method involves determining a retroactive adjustment to be applied to a price of an automobile insurance premium for a period during which the telematics data was collected.
27. The non-transitory computer readable medium of claim 25 , wherein determining the price for automobile insurance comprises determining an adjustment to be prospectively applied to a price of an automobile insurance premium for a future period.
In addition to the computer readable medium described in claim 25, the method involves determining an adjustment to be prospectively applied to a price of an automobile insurance premium for a future period.
28. A system for pricing an insurance premium based on route complexity, the system comprising: a computer memory for storing information related to an automobile insurance policy; and a processor in communication with the memory, wherein the processor is configured for: receiving a fractal complexity score of at least one trip taken by a vehicle while driven by a driver, wherein the fractal complexity score is based on at least a fractal dimension of a two dimensional representation of a route traversed by the vehicle during the at least one trip derived from telematics data received from a sensor within the vehicle, the telematics data comprising at least one of geo-position information of the vehicle and vehicle kinematics data; determining a price for automobile insurance for the driver based on the fractal complexity score of the at least one trip; and storing the price for the automobile insurance in the computer memory.
A system for pricing car insurance uses a computer to store insurance policy information. The computer receives a fractal complexity score of trips taken by a driver. The complexity score is based on the fractal dimension of the route derived from telematics data (location, speed, etc.) from a sensor in the car. The system determines the insurance price based on the complexity score and stores the price.
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August 19, 2011
September 17, 2013
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